US Gulf Coast retail bunker prices edged slightly higher Feb. 17, as suppliers in the region deal with harsh winter weather, says an article published in S&P Global.
Power Blackouts
The USGC energy complex has been hit hard by freezing temperatures and power blackouts, putting many refineries offline and supporting higher prices in the face of limited supply.
The March contract for NYMEX ULSD rose 2.33 cents/gal ($7.29/mt) to 183.77 cents/gal, while the April ICE Brent contract rose 95 cents/b ($7.21/mt) to $64.35/b.
Forced Intermittent Closing
The winter storms have forced intermittent closing of the Houston Ship Channel since Feb. 15, and sources said bunker activity was non-existent while the market waited out the storm.
“We are holding off on quoting due to logistical issues related to the storm,” said one supplier.
Marine Gasoil
Houston spot 0.5%S marine fuel bunker prices rose $3 to $473/mt ex-wharf, with New Orleans also up $3 to $478/mt ex-wharf.
Marine gasoil (MGO) in Houston was assessed at $554/mt ex-wharf, up $3 on the day. New Orleans spot MGO climbed $3 to $548/mt ex-wharf.
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Source : S&P Global
